Ela, the analytical engine giving consumers a fair deal in insurance

在过去的15年里，价格比较网站（PCW）已经出现在包括金融服务和公用事业在内的多个市场。据估计，85%的英国消费者使用过PCW（CMA，2017）。事实上，31%的英国个人汽车保险保单是通过PCW销售的（FCE，2019）。然而，尽管它们有很大的潜力-允许消费者快速比较公司之间的价格并选择价格最低的产品-但现在已经确定，PCW并没有为消费者提供公平的交易（FCA，2019）。事实上，最近对能源PCW的分析甚至得出结论，商业PCW应该被关闭，以更好地保护消费者利益（Antal，2020）。关注保险PCW，问题源于这样一个事实，即PCW主要从转介费中赚取收入，当消费者使用PCW购买产品时，保险公司支付转介费。PCW还从联盟营销协议中赚取收入。虽然PCW对消费者来说是“免费”的，但实际上，由于保险提供商为每份保单销售支付PCW，这些成本最终必须在消费者为保单支付的价格中得到补偿。最近的一项研究发现，PCW的“隐藏费用”通常为个人汽车保险60英镑左右，但可能高达160英镑（The Telegraph，2019）。这相当于PCW的隐性费用占保单成本的三分之一，考虑到平均年汽车保险成本为485英镑/年（ABI，2019）。此外，FCA法规规定，保险公司必须确保客户能够对保单做出明智的决定（“适当信息规则”）。然而，PCW并没有做到这一点。通过从最低到最高排列保单，而不披露保单特征，消费者很难了解他们是否购买了适合其个人需求的保险。如果一个更便宜的保险单有很高的超额，它不提供最佳价值。同样，如果您使用您的汽车进行商务旅行，但没有为商务用途驾驶提供保险的政策，那么更便宜/标准的政策可能会让您在商务旅行中没有保险，并在发生事故时承担个人责任。Rnwl于2019年成立于剑桥，其使命是消除管理保险的麻烦，并永远改变人们与保险公司和产品的互动方式。我们有一个宏伟的愿景，让消费者更便宜，透明，公正地进入汽车保险市场。我们将颠覆保险分销市场，使消费者受益：提供公正，更便宜的汽车保险。

Over the last 15 years, price comparison websites(PCWs) have emerged for multiple markets including financial services and utilities. It is estimated that 85% of UK consumers have used a PCW(CMA,2017). Indeed, 31% of all UK personal motor insurance policies are sold through PCWs(FCE,2019). Yet, despite their promising potential -- allowing consumers to rapidly compare prices between firms and select the lowest priced product -- it is now well established that PCWs do not offer a fair deal for consumers(FCA,2019). Indeed, a recent analysis of energy PCWs even concluded that commercial PCWs should be shut down to better protect consumer interests(Antal,2020).Focusing on insurance PCWs, the problem stems from the fact that PCWs primarily earn revenue from referral fees, paid by insurers when consumers use a PCW to purchase a product. PCWs also earn revenue from affiliate marketing agreements. While PCWs are marketed as "free" for consumers, in reality, since insurance providers pay PCWs for each policy sale, these costs must ultimately be recouped in the price paid by the consumer for the policy. A recent study found that PCWs' "hidden fees" are typically around £60 for personal motor insurance but can account for as much as £160(The\_Telegraph,2019). This is equivalent to PCWs' hidden fees accounting for up to one third of policy costs, given average annual car insurance cost of £485/year(ABI,2019).In addition, FCA regulations state that insurers must ensure customers can make informed decisions about policies (the"appropriate information rule"). However, PCWs fail to do just that. By ranking policies from lowest to highest, without disclosing policy features, it is very difficult for consumers to understand whether they are purchasing the right cover for their individual needs. If a cheaper insurance policy has a high excess, it does not offer the best value. Similarly, if you use your car for business travel, but do not have a policy that insures driving for business use, then a cheaper/standard policy could leave you uninsured on a business trip and personally liable in case of an accident.Founded in Cambridge in 2019, Rnwl's mission is to remove the hassle of managing insurances and forever change how people interact with their insurers and product offerings. We have a grand vision of giving consumers cheaper, transparent, and unbiased access to the motor insurance market.We will disrupt the insurance distribution market to the benefit of the consumer: delivering unbiased and cheaper access to motor insurance.